Haldex and VIE announce joint venture to develop electromechanical brake systems

Haldex (XSTO: HLDX) and Zhejiang VIE Science and Technology Co., Ltd. (VIE)
(SZSE: SZ002590) today announced a joint venture to design, develop, produce,
and sell electromechanical brake systems for commercial vehicles with an initial
focus on the electric bus market in China.
As manufacturers and governments seek solutions to combat climate change, China
is seen as taking a global lead in the market for fully electric commercial
vehicles. Electromechanical brakes is expected to be a fast growing niche within
this market, especially supported by the recent strong development of the
electric bus segment on the Chinese market. The Chinese market for electrical
buses is forecasted to grow by 47% between 2015 and 2020, to over 141,000
vehicles produced during 2020. The new technology will offer customers a
simplified and cost effective brake system layout; independent from pneumatic
energy, with reduction of noise, improved braking performance, and better
passenger and driver comfort.

Under the agreement, Haldex and VIE will set up a green field joint venture with
the parties owning 50% each. The joint venture will operate under the name
Haldex VIE (China) Electro Mechanical Brake Systems Co., Ltd. and be based in
Shanghai, China. The joint venture will capitalize on Haldex’ early development
of electromechanical brake systems, not yet released to the market, and VIE’s
market leading position and customer base on the Chinese market. Both parties
will contribute with the necessary financial and engineering resources to bring
the electromechanical brake system to the commercial vehicle market. The initial
focus will be on the growing electrical bus market in China and the joint
venture is expecting revenue from the year 2020 and onwards.

The chairman of VIE, Xi-Liang Chen says: “Haldex is a world-renowned company
with a long history in the global commercial vehicle industry, providing
reliable and innovative solutions improving areas such as safety. Haldex has
unrivaled expertise when it comes to R&D for electromechanical braking systems
for commercial vehicles. VIE is a leading company in China providing R&D,
manufacturing and marketing for commercial vehicle braking systems. The signing
of this joint-venture agreement is a sign of strong cooperation.” He emphasizes:
“The establishment of this joint venture will improve the competitive strength
of both companies in China and in the rest of the world. This is especially true
for safety technology within the emerging market of electric commercial
vehicles, which will guide the innovative development of electromechanical
braking systems globally.”

“This agreement combines our companies’ strengths into a powerful player that
has the potential to become the market leader of electromechanical brake
systems.”, says Bo Annvik, President & CEO of Haldex. “VIE is a strategic
partner to us on the Chinese market and we value their expertise and strong
customer relationships. Electromechanical brake technology has, for Haldex, long
been an identified growth opportunity. With this joint venture we will have the
capacity and market support to develop innovative, game changing technologies in
a growing market segment. I’m also very pleased that Haldex is taking a leading
position in eco-friendly technology that will be a key component in building a
sustainable future of commercial vehicles with high safety requirements.”

The joint venture will be subject to regulatory approvals. The joint venture has
the right to distribute and sell the products developed by the joint venture in
Asia Pacific.

About VIE

For more than 30 years, Zhejiang VIE Science & Technology Co., ltd. has focused
on air brake systems for commercial vehicles, hydraulic brake and steering
systems for passenger vehicles, electric control systems for automobile chassis,
and sub-frame systems for passenger vehicles etc. In recent years VIE has relied
on scientific and technological innovation. Through technology integration, VIE
has actively developed auxiliary drive systems, networking intelligent
transportation systems, as well as achieved electric wireless charging
technology for passenger vehicles. By transforming from “manufactured by VIE”
to” Intelligently made by VIE”, VIE has become a world-class supplier of parts
and components. VIE was formally listed in Shenzhen Stock exchange in 2011, and
the company achieved a sales volume of 1.68 Billion RMB in 2015. For more
information visit www.vie.com.cn

About Haldex

With more than 100 years of intensely focused innovation, Haldex holds unrivaled
expertise in brake systems and air suspension systems for heavy trucks, trailers
and buses. We live and breathe our business delivering robust, technically
superior solutions born from deep insight into our customers’ reality. By
concentrating on our core competencies and following our strengths and passions,
we combine both the operating speed and flexibility required by the market.
Collaborative innovation is not only the essence of our products – it is also
our philosophy. Our 2,140 employees, spread on four continents, are constantly
challenging the conventional and strive to ensure that the products we deliver
create unique value for our customers and all end-users. We are listed on the
Nasdaq Stockholm Stock Exchange and have net sales of approximately 4.8 billion
SEK. For further information visit www.haldex.com
Media contacts

Haldex

Bo Annvik
President & CEO, Haldex
Phone: +46 418-47 60 00
E-mail: bo.annvik@haldex.com

Catharina Paulcén
SVP Corporate Communications, Haldex
Phone: +46 418-47 61 57
E-mail: catharina.paulcen@haldex.com

VIE

Cheng Li-Xiang   陈利祥
Company Chairman of VIE
E-mail  clx@vie.com.cn

Haldex AB (publ) is required to publish the above information under the Swedish
Financial Instruments Trading Act. The information was submitted for publication
on Wednesday May 4, 2016 at 9.10 CEST.